New law to boost investments in critical and emerging technologies
09 Aug 2022
On 9 August 2022, the President of the United States signed into law the "Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act". The objective of the law is to boost American semiconductor research, development, and production, and ensure that the United States maintains and advances its scientific and technological edge.
The CHIPS and Science Act provides for:
- $54 billion allocated to funding and Tax Credit Opportunities for Semiconductor Manufacturing and Research, including manufacturing incentives and a a 25 per cent investment tax credit for capital expenses for manufacturing of semiconductors and related equipment;
- $1.5 billion allocated to funding Opportunities for Wireless Supply Chain Innovation, which included grants for promoting and deploying wireless technologies that use open and interoperable radio access networks;
- $100 billion in government programs to support R&D, technology transfer, innovation, and science, technology, education, and mathematics (“STEM”) education
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Type:
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Promotion and facilitation (Investment incentives, Other)
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Industry:
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Manufacturing (Manufacture of computer, electronic and optical products, and electrical equipment)
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Services (Telecommunications)
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Sources:
